BW Offshore: BW Energy investor presentation
29 Maggio 2019 - 7:30AM
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN OR TO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE
REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA OR JAPAN.
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE
UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH
AFRICA OR JAPAN. THE SHARES TO WHICH THIS ANNOUNCEMENT RELATES HAVE
NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT. THERE WILL NOT BE A PUBLIC OFFERING OF SHARES IN THE
UNITED STATES.
(With reference to stock exchange release dated 27
May)
BW Energy investor
presentation
Please find attached the presentation material
which will be used by BW Energy at the announced lunch presentation
which the company will host on 3 June 2019 at 12:00 (CEST) at Hotel
Continental in Oslo, Norway, as well as in upcoming investor
meetings.
An E&P company that unlocks
value that traditional oil & gas companies are not
addressing
BW Energy's development of the Dussafu license offshore Gabon has
moved the threshold for commercial development of discovered
resources through innovative FPSO agreements and fast-track,
properly scaled development concepts.
The attached presentation material provides additional information
about BW Energy, its assets and business plan. These include the
following key elements:
-
A growth-focused E&P company unlocking value
from proven discoveries
-
Unique ability to trigger phased field
developments by redeployment of existing FPSOs
-
Business model proven by first oil from Dussafu
field in Gabon 18 months after acquisition
-
On track to triple Dussafu production to ~30,000
bopd by Q4 2021
-
Completion of the Maromba acquisition in Brazil
will more than double estimated net reserves and resources to 175
mmbbl (management estimate)
-
Significant upside beyond current commercial
reserves in Dussafu and Maromba
"We target robust business opportunities based on
proven reserves with sequential growth potential, seeking to unlock
significant value that traditional oil & gas companies are not
addressing," said Carl K. Arnet, the CEO of BW Offshore. "We see
great upside from our existing assets and several field investment
opportunities which meet our selective criteria as larger oil
companies continue to adjust their portfolios of offshore
assets."
"We will invite external investors to add to BW
Energy's project execution capacity and growth potential and look
forward to presenting our unique business model over coming days
and weeks," Carl K. Arnet added.
BW Energy will have a diversified portfolio of
production and development assets, positioned for growth based on
its unique low-risk development strategy supported by BWO's FPSO
track-record and experience. BW Energy was established as a
joint-venture company with BW Group in late 2016 and has since
together with BWO developed a portfolio of attractive upstream oil
and gas assets in West Africa and Brazil. BW Energy targets a
listing on Oslo Stock Exchange by mid H2 2019.
For further information, please contact:
IR@bwoffshore.com or www.bwoffshore.com
About BW Offshore:
BW Offshore is a leading provider of floating production services
to the oil and gas industry. The company also participates in
developing proven offshore hydrocarbon reservoirs. BW Offshore is
represented in all major oil and gas regions world-wide with a
fleet of 15 owned FPSOs. The company has more than 30 years of
production track record, having executed 40 FPSO and FSO projects.
BW Offshore is listed on the Oslo Stock Exchange.
***
This announcement is not an offer to sell or a solicitation of
offers to purchase or subscribe for securities of BW Offshore
Limited. This announcement is not a prospectus for the purposes of
Directive 2003/71/EC (as amended, together with any applicable
implementing measures in any Member State, the "Prospectus
Directive"). Copies of this announcement may not be sent to
jurisdictions, or distributed in or sent from jurisdictions, in
which this is barred or prohibited by law. The information
contained herein does not and shall not constitute an offer to sell
or the solicitation of an offer to buy, in any jurisdiction in
which such offer or solicitation would be unlawful prior to
registration, exemption from registration or qualification under
the securities laws of any jurisdiction.
This announcement and the information contained
herein is not for publication or distribution into the United
States of America and should not be distributed or otherwise
transmitted into the United States or publications with a general
circulation in the United States. This announcement does not
constitute an offer or invitation to subscribe for or to purchase
any securities in the United States of America. The shares referred
to herein have not been and will not be registered under the
Securities Act or the laws of any state and may not be offered or
sold in the United States of America absent registration or an
exemption from registration under the Securities Act. There will be
no public offering of the new shares in the United States of
America.
The information contained herein does not
constitute an offer of securities to the public in the United
Kingdom. No prospectus offering securities to the public will be
published in the United Kingdom. This announcement is only being
distributed to and is only directed at (i) persons who are outside
the United Kingdom or (ii) to investment professionals falling
within article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Order") or (iii)
high net worth entities, and other persons to whom it may lawfully
be communicated, falling within article 49(2)(a) to (d) of the
Order (all such persons together being referred to as "relevant
persons").
Investment in BW Energy is only available to, and
any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such shares will be engaged in only with,
relevant persons. Any person who is not a relevant person should
not act or rely on this announcement or any of its contents.
Any offer of securities to the public that may be
deemed to be made pursuant to this communication in any EEA Member
State that has implemented Prospectus Directive is only addressed
to qualified investors in that Member State within the meaning of
the Prospectus Directive.
This publication may contain specific
forward-looking statements, e.g. statements including terms like
"believe", "assume", "expect", "forecast", "project", "may",
"could", "might", "will" or similar expressions. Such
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors which may result in a substantial
divergence between the actual results, financial situation,
development or performance of BW Offshore Ltd. and those explicitly
or implicitly presumed in these statements. Against the background
of these uncertainties, readers should not rely on forward-looking
statements. BW Offshore Ltd. assumes no responsibility to up-date
forward-looking statements or to adapt them to future events or
developments
This information is subject to the disclosure
requirements pursuant to section 5 -12 of the Norwegian Securities
Trading Act.
BWE Investor presentation
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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